FIGS, Inc. $FIGS Position Trimmed by Algert Global LLC

Key Points

• Algert Global LLC significantly reduced its stake in FIGS, Inc. by 81.5%, owning only 38,780 shares after selling 170,950 shares during the first quarter.
• Several institutional investors increased their holdings in FIGS, with 92.21% of the stock currently owned by institutional investors.
• The company's stock has a consensus rating of "Hold" with an average target price of $5.38, reflecting mixed analyst opinions.

Algert Global LLC decreased its holdings in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 81.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,780 shares of the company's stock after selling 170,950 shares during the period. Algert Global LLC's holdings in FIGS were worth $178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in FIGS by 37.9% during the 4th quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company's stock worth $75,445,000 after purchasing an additional 3,352,846 shares during the last quarter. Security Benefit Life Insurance Co. KS acquired a new position in shares of FIGS in the 1st quarter valued at $6,962,000. Pacer Advisors Inc. acquired a new position in FIGS in the first quarter valued at about $4,640,000. Dimensional Fund Advisors LP lifted its stake in FIGS by 23.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company's stock worth $26,931,000 after purchasing an additional 827,149 shares in the last quarter. Finally, Bamco Inc. NY lifted its stake in FIGS by 2.7% during the fourth quarter. Bamco Inc. NY now owns 30,837,759 shares of the company's stock worth $190,886,000 after purchasing an additional 807,681 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Catherine Eva Spear sold 65,866 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $6.88, for a total transaction of $453,158.08. Following the completion of the transaction, the chief executive officer directly owned 1,969,246 shares in the company, valued at approximately $13,548,412.48. This represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sarah Oughtred sold 99,834 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $6.19, for a total value of $617,972.46. Following the completion of the sale, the chief financial officer owned 878,058 shares of the company's stock, valued at $5,435,179.02. This trade represents a 10.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 167,661 shares of company stock worth $1,079,857 in the last quarter. Insiders own 29.44% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded FIGS from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Cowen reaffirmed a "hold" rating on shares of FIGS in a research report on Friday, August 8th. Morgan Stanley raised their target price on shares of FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. The Goldman Sachs Group raised their price target on FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a report on Tuesday, July 22nd. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $7.00 price objective (up from $5.00) on shares of FIGS in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, FIGS has an average rating of "Hold" and an average price target of $5.38.

FIGS Stock Down 1.7%

Shares of FIGS traded down $0.13 on Friday, hitting $7.04. 1,156,874 shares of the stock traded hands, compared to its average volume of 2,111,832. The firm has a market capitalization of $1.15 billion, a P/E ratio of 175.92, a P/E/G ratio of 4.52 and a beta of 1.34. The stock's 50 day moving average is $6.33 and its two-hundred day moving average is $5.23. FIGS, Inc. has a 1 year low of $3.57 and a 1 year high of $7.31.

FIGS (NYSE:FIGS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The company had revenue of $152.64 million for the quarter, compared to the consensus estimate of $144.17 million. During the same quarter last year, the firm posted $0.01 earnings per share. FIGS's revenue was up 5.8% on a year-over-year basis. Research analysts forecast that FIGS, Inc. will post 0.01 EPS for the current year.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.